Which of the following is true regarding a static budget? O A static budget is prepared once every year before the company's fiscal year starts and does not change. O A static budget helps management understand the future financial position of the company and acts as a performance measurement tool during the year by comparing actual results against the static budget to monitor company performance. O A static budget sets internal targets for sales, production, distribution, administrative, and financial activities. All of the above. What is a flexible budget? A budget that provides estimates of what revenues and costs should be for any level of activity within a specified range. A static budget that changes throughout the year. A budget that provides estimates of what revenues and costs should be for one level of activity. O A budget that goes to yoga class